{"url_path":"/sec/ablv/10-k/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"20-F","doc_date":"2026-04-27","source_url":"https://www.sec.gov/Archives/edgar/data/1957489/0001213900-26-048085-index.html","accession_number":"0001213900-26-048085","cik":"0001957489","ticker":"ABLV","issuer_name":"Able View Global Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1957489/0001213900-26-048085-index.html","primary_entity_key":"0001957489","primary_entity_name":"Able View Global Inc."},"word_count":2352,"has_tables":true,"body_markdown":"**UNITED\nSTATES**\n\n**SECURITIES\nAND EXCHANGE COMMISSION**\n\n**WASHINGTON,\nD.C. 20549**\n\n \n\n**FORM\n20-F**\n\n \n\n**(Mark\nOne)**\n\n☐\n**REGISTRATION STATEMENT PURSUANT TO SECTION 12(B) OR 12(G) OF THE SECURITIES EXCHANGE ACT OF 1934**\n\n \n\n**OR**\n\n \n\n☒\n**ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934**\n\n \n\n**For\nthe fiscal year ended: December 31, 2025**\n\n** **\n\n**OR**\n\n \n\n☐\n**TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934**\n\n** **\n\n**OR**\n\n \n\n☐\n**SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934**\n\n \n\n**Commission\nFile Number: 001-41785**\n\n \n\n**Able\nView Global Inc.**\n\n**(Exact\nname of Registrant as specified in its charter)**\n\n \n\n \n\n**Not applicable**   **Cayman Islands**\n\n**(Translation of Registrant’s name into English)**   **(Jurisdiction of incorporation or organization)**\n\n** **\n\n**Jing\nTang**\n\n**Chief\nFinancial Officer**\n\n**Floor\n16, Dushi Headquarters Building**\n\n**No.\n168, Middle Xizang Road**\n\n**Shanghai,\n200001, People’s Republic of China**\n\n**+86\n185 0177 0425**\n\n**(Name,\nTelephone, Email and/or Facsimile number and Address of Company Contact Person)**\n\n** **\n\n**Securities\nregistered or to be registered pursuant to Section 12(b) of the Act:**\n\n \n\n**Title of each class**   **Trading Symbol(s)**  \n**Name\nof each exchange on which registered**\n\n**Class B Ordinary Shares, $0.0001 par value per share**   **ABLV**   **Nasdaq Capital Market**\n\n**Warrants, each exercisable for one Class B Ordinary Share at an exercise price of $11.50 per share**   **ABLVW**   **Nasdaq Capital Market**\n\n** **\n\n**Securities\nregistered or to be registered pursuant to Section 12(g) of the Act: None**\n\n** **\n\n**Securities\nfor which there is a reporting obligation pursuant to Section 15(d) of the Act: None**\n\n \n\n \n\n \n\n \n\nIndicate\nthe number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered\nby the annual report: 24,871,433 Class A Ordinary Shares and 24,518,489 Class B Ordinary Shares.\n\n \n\nIndicate\nby check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☒\n\n \n\nIf\nthis report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section\n13 or 15(d) of the Securities Exchange Act of 1934. Yes ☐ No ☒\n\n \n\nIndicate\nby check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange\nAct of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)\nhas been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\n\n \n\nIndicate\nby check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule\n405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant\nwas required to submit and post such files). Yes ☒ No ☐\n\n \n\nIndicate\nby check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth\ncompany. See definition of “large accelerated filer,” “accelerated filer,” and “emerging growth company”\nin Rule 12b-2 of the Exchange Act.\n\n \n\nLarge accelerated filer ☐ Accelerated filer ☐\n\nNon-accelerated filer ☒ Emerging growth company ☒\n\n \n\nIf\nan emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant\nhas elected to use the extended transition period for complying with any new or revised financial accounting standards† provided\npursuant to Section 13(a) of the Exchange Act. ☐\n\n \n\n†The\nterm “new or revised financial accounting standard” refers to any update issued\nby the Financial Accounting Standards Board to its Accounting Standards Codification after\nApril 5, 2012.\n\n \n\nIndicate\nby check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness\nof its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b) by the registered\npublic accounting firm that prepared or issued its audit report. ☐\n\n \n\nIf\nsecurities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant\nincluded in the filing reflect the correction of an error to previously issued financial statements. ☐\n\n \n\nIndicate\nby check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation\nreceived by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐\n\n \n\nIndicate\nby check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:\n\n \n\n \n\nU.S. GAAP ☒ International Financial Reporting Standards as issued by the International Accounting Standards Board ☐ Other ☐\n\n \n\nIf\n“Other” has been checked in response to the previous question indicate by check mark which financial statement item the registrant\nhas elected to follow. Item 17 ☐ Item 18 ☐\n\n \n\nIf\nthis is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange\nAct). Yes ☐ No ☒ \n\n \n\n \n\n \n\n \n\n \n\n \n\n**ABLE\nVIEW GLOBAL INC.**\n\n \n\n**TABLE\nOF CONTENTS**\n\n \n\n[Cautionary\nNote Regarding Forward-Looking Statements](#a_001)\nii\n\n[Defined\nTerms](#a_002)\niv\n\n[PART\nI](#a_003)\n1\n\n[Item\n1. Identity of Directors, Senior Management and Advisers](#a_004)\n1\n\n[Item\n2. Offer Statistics and Expected Timetable](#a_005)\n1\n\n[Item\n3. Key Information](#a_006)\n1\n\n[Item\n4. Information on the Company](#a_007)\n46\n\n[Item\n4A. Unresolved Staff Comments](#a_008)\n60\n\n[Item\n5. Operating and Financial Review and Prospects](#a_009)\n60\n\n[Item\n6. Directors, Senior Management and Employees](#a_010)\n75\n\n[Item\n7. Major Shareholders and Related Party Transactions](#a_011)\n80\n\n[Item\n8. Financial Information](#a_012)\n85\n\n[Item\n9. The Offer and Listing](#a_013)\n85\n\n[Item\n10. Additional Information](#a_014)\n86\n\n[Item\n11. Quantitative and Qualitative Disclosures about Market Risk](#a_015)\n98\n\n[Item\n12. Description of Securities Other than Equity Securities](#a_016)\n98\n\n[PART\nII](#a_017)\n99\n\n[Item\n13. Defaults, Dividends Arrearages and Delinquencies](#a_018)\n99\n\n[Item\n14. Material Modifications to the Rights of Security Holders and Use of Proceeds](#a_019)\n99\n\n[Item\n15. Controls and Procedures](#a_020)\n99\n\n[Item\n16. [Reserved]](#a_021)\n100\n\n[Item\n16A. Audit Committee Financial Expert](#a_022)\n100\n\n[Item\n16B. Code of Ethics](#a_023)\n100\n\n[Item\n16C. Principal Accountant Fees and Services](#a_024)\n100\n\n[Item\n16D. Exemptions from the Listing Standards for Audit Committees](#a_025)\n100\n\n[Item\n16E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers](#a_026)\n100\n\n[Item\n16F. Change in Registrant’s Certifying Accountant](#a_027)\n100\n\n[Item\n16G. Corporate Governance](#a_028)\n101\n\n[Item\n16H. Mine Safety Disclosure](#a_029)\n102\n\n[Item\n16I. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections](#a_030)\n102\n\n[Item\n16J. Insider Trading Policies](#a_031)\n102\n\n[Item\n16K. Cybersecurity](#a_032)\n102\n\n[PART\nIII](#a_033)\n104\n\n[Item\n17. Financial Statements](#a_034)\n104\n\n[Item\n18. Financial Statements](#a_035)\n104\n\n[Item\n19. Exhibits](#a_036)\n104\n\n[SIGNATURES](#a_037)\n105\n\n \n\ni\n\n \n\n \n\n**CAUTIONARY\nNOTE REGARDING FORWARD-LOOKING STATEMENTS**\n\n \n\nThis\nAnnual Report on Form 20-F (including information incorporated by reference herein, the “Report”) contains or may contain\nforward-looking statements as defined in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and\nSection 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), that involve significant risks and uncertainties.\nAll statements other than statements of historical facts are forward-looking statements. These forward-looking statements include information\nabout our possible or assumed future results of operations or our performance. The words “anticipate”, “believe”,\n“continue”, “could”, “estimate”, “expect”, “intends”, “may”,\n“might”, “plan”, “possible”, “potential”, “predict”, “project”,\n“should”, “would” and similar expressions may identify forward-looking statements, but the absence of these words\ndoes not mean that a statement is not forward-looking. Forward-looking statements in this Report may include, for example, statements\nabout:\n\n \n\n●the\nbenefits from the Business Combination;\n\n \n\n●the\nCompany’s plans to expand its customers base with market trends;\n\n \n\n●the\nCompany’s work to provide comprehensive brand management of international beauty and\npersonal care brands in China;\n\n \n\n \n●\nthe\nCompany’s future financial performance following the Business Combination, including any expansion plans and opportunities;\n\n \n\n \n●\nthe\nCompany’s success in retaining or recruiting, or changes required in, its officers, key employees or directors following the\nBusiness Combination or any other initial business combination;\n\n \n\n \n●\nchanges\nin the Company’s strategy, future operations, financial position, estimated revenue and losses, projected costs, prospects\nand plans;\n\n \n\n \n●\nthe\nimplementation, market acceptance and success of the Company’s business model;\n\n \n\n \n●\nthe\nCompany’s expectations surrounding the growth of its digital platform as a part of its revenues;\n\n \n\n \n●\nthe\nCompany’s expectations surrounding the insurance it will maintain going forward;\n\n \n\n \n●\nthe\nCompany’s ability to utilize the “controlled company” exemption under the rules of Nasdaq; and\n\n \n\n \n●\nthe\nCompany’s ability to maintain the listing of its Class B Ordinary Shares or Warrants on Nasdaq.\n\n \n\nii\n\n \n\n \n\nThese\nforward-looking statements are based on information available as of the date of this Report, and current expectations, forecasts and\nassumptions involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon\nas representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect\nevents or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as\nmay be required under applicable securities laws. As a result of a number of known and unknown risks and uncertainties, our actual results\nor performance may be materially different from those expressed or implied by these forward-looking statements. Some factors that could\ncause actual results to differ include:\n\n \n\n \n●\nthe\nability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, the ability\nof the Company to grow and manage growth profitably, maintain relationships with customers, compete within its industry and retain\nits key employees;\n\n \n\n \n●\nfuture\nexchange and interest rates;\n\n \n\n \n●\nthe\nCompany is highly dependent on the services of its executive officers;\n\n \n\n \n●\nthe\nCompany may experience difficulties in managing its growth and expanding its operations;\n\n \n\n \n●\nthe\noutcome of any legal proceedings that may be instituted against the Company or others in connection with the Business Combination\nand the related transactions;\n\n \n\n \n●\nthe\nCompany may face risks and uncertainties associated with laws and regulations within the People’s Republic of China, which\nmay have a material adverse effect on its business;\n\n \n\n \n●\nthe\nCompany’s business largely depends on relationships with customers;\n\n \n\n \n●\nthe\nCompany is subject to customer concentration risk;\n\n \n\n \n●\nany\nsignificant disruption in services on the Company’s apps, websites or computer systems.\n\n \n\nThe\nrisk factors and cautionary language referred to or incorporated by reference in this Report provide examples of risks, uncertainties\nand events that may cause actual results to differ materially from the expectations described in our forward-looking statements, including\namong other things, the items identified in the section entitled “Risk Factors” of this Report.\n\n \n\niii\n\n \n\n \n\n**DEFINED\nTERMS**\n\n \n\nIn\nthis Report, unless otherwise stated, references to:\n\n \n\n“$,”\n“USD,” “US$” and “U.S. dollar” each refers to the United States dollar.\n\n \n\n“Amended\nand Restated Memorandum and Articles of Association” means the amended and restated memorandum and articles of association of the\nCompany adopted upon the consummation of the Business Combination.\n\n \n\n“Ancillary\nAgreements” means certain additional agreements entered into or to be entered into pursuant to or in connection with the Business\nCombination Agreement.\n\n \n\n“Business\nCombination” means the transactions contemplated by the Business Combination Agreement and the Ancillary Agreements.\n\n \n\n“Business\nCombination Agreement” means that certain Business Combination Agreement, dated as of November 21, 2022 and as modified by that\ncertain Waiver Agreement, dated as of June 12, 2023, by and among (i) the Company, (ii) HMAC, (iii) Target, (iv) Able View Corporation\nInc., a Cayman Islands exempted company and a wholly owned subsidiary of the Company, and (v) each of the holders of the Target’s\noutstanding shares named on Annex I of the Business Combination Agreement.\n\n \n\n“CAGR”\nmeans compound annual growth rate.\n\n \n\n“China”\nor the “PRC”, in each case, means the People’s Republic of China, including Hong Kong and Macau. The term “Chinese”\nhas a correlative meaning for the purpose of this annual report.\n\n \n\n“Class\nA Ordinary Shares” means, the Class A ordinary shares of the Company, each with par value $0.0001 per share.\n\n \n\n“Class\nB Ordinary Shares” means, the Class B ordinary shares of the Company, each with par value $0.0001 per share.\n\n \n\n“Closing”\nmeans the closing of the Business Combination.\n\n \n\n“Code”\nmeans the Internal Revenue Code of 1986, as amended.\n\n \n\n“Companies\nAct” means the Companies Act (As Revised) of the Cayman Islands as the same may be amended from time to time.\n\n \n\n“Company”,\n“Able View”, or “Pubco” means Able View Global Inc., a Cayman Islands exempted company.\n\n \n\n“Exchange\nAct” means the Securities Exchange Act of 1934, as amended.\n\n \n\n“Form\nF-4” means the Company’s Registration Statement on Form F-4 (333-270675) initially filed with the SEC on March 17, 2023 and\ndeclared effective by the SEC on June 30, 2023.\n\n \n\niv\n\n \n\n \n\n“HMAC”\nmeans Hainan Manaslu Acquisition Corp., a Cayman Islands exempted company.\n\n \n\n“HMAC\nSponsor” means Bright Winlong LLC, the sponsor of HMAC.\n\n \n\n“iResearch\nReport” means the Independent Market Research Report on the Beauty and Personal Care Brand Full-Service Partners in China dated\nOctober 17, 2022 and updated on February 13, 2023, issued by iResearch Co. Ltd. which was commissioned by Able View.\n\n \n\n“JOBS\nAct” means the Jumpstart Our Business Startups Act.\n\n \n\n“Nasdaq\nListing Rules” refers to the listing rules of The Nasdaq Stock Market LLC.\n\n \n\n“Nasdaq”\nmeans The Nasdaq Stock Market LLC.\n\n \n\n“Ordinary\nShares” means, collectively, the Class A Ordinary Shares and the Class B Ordinary Shares.\n\n \n\n“PRC\nLaws” means all the laws, administrative measures, regulations, rules promulgated in mainland China by the government of mainland\nChina.\n\n \n\n“PRC\nOperating Entities” means all the subsidiaries of Able View Inc. that are operating in PRC, including in mainland China and Hong\nKong.\n\n \n\n“Pre-Public Shareholders” means all\nthe shareholders who holds the shares of the Target before Business Combination.\n\n \n\n“Sarbanes-Oxley\nAct” means the Sarbanes-Oxley Act of 2002, as may be amended.\n\n \n\n“SEC”\nmeans the U.S. Securities and Exchange Commission.\n\n \n\n“Target”\nrefers to Able View Inc. (d/b/a Able View), a Cayman Islands exempted company and wholly owned subsidiary of the Company after the Business\nCombination.\n\n \n\n“U.S.”\nmeans the United States of America.\n\n \n\n“U.S.\nGAAP” or “GAAP” means generally accepted accounting principles in the United States of America.\n\n \n\n“Warrants”\nmeans warrants of the Company, each exercisable for one Class B Ordinary Share at an exercise price of $11.50 per share.\n\n \n\nv\n\n \n\n \n\n**PART\nI**"}